Argentina's Central Bank Announces Measures to Stabilize Peso, Reduce Inflation, and Sell US Dollars

Jul 13, 2024, 03:40 PM

Argentina's Central Bank has announced a series of measures aimed at stabilizing the national currency and reducing inflation. The bank has suspended passive pass operations to clean up its balance sheet as of July 11. In a statement on July 13, the bank also revealed a new scheme to end endogenous emission. Minister Caputo announced that no more pesos will be issued and that when the Central Bank buys dollars in the official dollar market, it will sell them in the financial dollar market to maintain the peso's stability. Starting Monday, the Central Bank will sell US dollars in the country's parallel foreign exchange markets.